For Southern California broker Troy Palmquist, your output is only as good as your input
In this weekly column, real estate agents across the nation share stories of the lessons they’ve learned during their time in the industry.
As the founder of The Address Real Estate company and an advocate for indie brokers, Troy Palmquist brings his trademark high energy and branding savvy to the practice of real estate.
Whether he’s writing, speaking, or checking out properties, he’s always looking for ways to communicate and share his passion for real estate. Here’s how he finds learning opportunities everywhere he goes.
How long have you been in the business, and how did you get started?
I started out in the business when I was 20. I worked for a small father-son real estate company in Santa Monica.
I moved back down from the Portland area and lived on a couch, and out of a closet, at a friend’s house in West LA. I didn’t make much money, but I learned so much.
Where do you see yourself in 5 years?
Continuing to grow The Address into one of the most important indie brokerages in California, with an emphasis on creating and sharing the positive culture that we’re building. My goal is to have a larger role to play in our professional trade groups the California Association of Realtors (CAR) and the National Association of Realtors (NAR.)
What’s one big lesson you’ve learned in real estate?
Great mentors are everywhere — you just have to be willing to look for them.
How did you learn it?
People talk about mentoring as if it’s a magical thing that happens with just one person, but in reality, when you are immersed in your work, you’ll have many ways to connect with a variety of game-changing mentors. Before I started The Address, I spent time researching on Inman, seeking out information on independent brokerages, and talking to people who had been there before.
Whether you choose to work with a coach, work with an in-person mentor, or just spend time and effort on research and reading, you’ll find that the most important work you do comes from listening to people who have been there before and who know more than you.
When you have respect for other people in your field, every meeting, every continuing education class, every lunch becomes an opportunity to learn from great mentors.
What advice would you give to new agents?
There are a few rules I live by:
- Make your bed every morning. That one small task sets you up for success throughout the day.
- Time-block to keep yourself on track and to ensure that you’re making time for the things that matter to you and to your business.
- Seek out balance in your life so that you can sustain both your professional success and your relationships.
- In the digital age, even if you’re not busy, make yourself busy and share what you are doing with your followers. Go and preview houses in your area and share it on your Snapchat or Instagram Stories.
- Just because you don’t have someone to talk to IRL, there’s so much valuable information available to you. These resources are free, and the opportunity to get advice from people like Brian Buffini and Tom Ferry — or hundreds of other people creating valuable content — provide the opportunity for you to immerse yourself in education.
At The Address, we have an agent named Andy Dane Carter who has an amazing podcast with hundreds of hours of expertise and experience to offer. That’s hundreds of hours of mentoring for those who are willing to put in the time.
- You’ve got to be in it because of your passion for helping people — not for the commission check. The commission is the byproduct of helping someone sell or buy their home. You’ve got to do everything with the best intentions for the client.